CSX (NASDAQ:CSX) had its target price lifted by investment analysts at Wells Fargo & Company from $33.00 to $34.00 in a research note issued to investors on Thursday, Briefing.com reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 3.16% from the company’s previous close.
CSX has been the topic of several other reports. Royal Bank of Canada boosted their target price on shares of CSX from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday. raised shares of CSX from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 29th. Atlantic Securities began coverage on shares of CSX in a research note on Monday, July 12th. They issued an “overweight” rating and a $40.00 price target on the stock. Susquehanna upped their price target on shares of CSX from $37.00 to $38.00 and gave the stock a “positive” rating in a research note on Thursday. Finally, UBS Group upped their price target on shares of CSX from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. CSX has a consensus rating of “Buy” and a consensus price target of $34.25.
NASDAQ:CSX traded up $1.39 during trading hours on Thursday, hitting $32.96. 444,978 shares of the stock traded hands, compared to its average volume of 12,206,381. The business’s 50 day simple moving average is $33.69. The company has a current ratio of 2.39, a quick ratio of 2.23 and a debt-to-equity ratio of 1.24. CSX has a fifty-two week low of $22.69 and a fifty-two week high of $34.96. The firm has a market capitalization of $74.89 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16.
In other CSX news, EVP Mark Kenneth Wallace sold 47,966 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $104.38, for a total transaction of $5,006,691.08. Following the completion of the sale, the executive vice president now directly owns 110,876 shares in the company, valued at $11,573,236.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul C. Hilal sold 1,411,705 shares of the company’s stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $100.93, for a total transaction of $142,483,385.65. Following the sale, the director now owns 12,399 shares of the company’s stock, valued at $1,251,431.07. The disclosure for this sale can be found here. Insiders have sold 1,996,015 shares of company stock valued at $201,411,409 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vantage Consulting Group Inc bought a new stake in shares of CSX in the fourth quarter valued at about $30,000. Grant Street Asset Management Inc. bought a new stake in shares of CSX in the fourth quarter valued at about $32,000. Cypress Capital Management LLC WY bought a new stake in shares of CSX in the first quarter valued at about $43,000. Evoke Wealth LLC lifted its stake in shares of CSX by 94.6% in the first quarter. Evoke Wealth LLC now owns 471 shares of the transportation company’s stock valued at $45,000 after buying an additional 229 shares during the period. Finally, Godsey & Gibb Associates bought a new stake in shares of CSX in the first quarter valued at about $52,000. Institutional investors and hedge funds own 73.11% of the company’s stock.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.
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